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Use Excel and the tables in the text to calculate the following assuming you want to set up a college account for your kid and
- Use Excel and the tables in the text to calculate the following assuming you want to set up a college account for your kid and that you want to accumulate $50,000 in the fund at the end of 10 years.
- If you can invest at 6% per year, how much would you need to put into the fund at the end of each year? Be prepared to describe how you did the calculation.
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- If you can invest at 6% per year, how much would you need to put into the fund at the beginning of each year? Be prepared to describe how you did the calculation.
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- If you can invest $1,000 at the end of every six months, approximately what interest rate would you need to find for the investment to meet your $50,000 goal in 10 years? Be prepared to describe how you did the calculation.
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